Dow closes more than 150 points lower

Dow closes more than 150 points lower

Following the mixed performance seen in the previous session, stocks are likely to move to the upside in early trading on Friday.

MARKETS OVERSEAS: Major indexes in Europe were mostly lower.

Gains in technology and industrial shares helped US stocks rebound from a two-day fall on Thursday as investors shrugged off the prospects of more interest rate hikes this year.

Trading activity may be somewhat subdued, however, as a lack of major United States economic data is likely to keep some traders on the sidelines. "It lined up with market expectations for a continued gradual pace in interest rate hikes", said Michael Skordeles, U.S. macro strategist at Suntrust Advisory Services in Atlanta.

Meanwhile, traders may look ahead to the release of a slew of economic data next week, including reports on new home sales, durable goods orders, consumer confidence, personal income and spending, and manufacturing activity.

Uncertainty about the near-term outlook for the markets may lead to choppy trading on Wall Street after the volatility seen in recent weeks.

The two companies created from the split of Hewlett Packard Co in 2015, reported strong results and HPE also announced a plan to return $7 billion to shareholders.

Since inflation worries knocked the S&P 500 down more than 10 percent from its January 26 high, stocks have rebounded in recent sessions as yields on the 10-year U.S. Treasury note have stabilized around the 2.9 percent mark.

The Dow Jones Industrial Average .DJI rose 229.23 points, or 0.92 percent, to 25,191.71, the S&P 500 .SPX gained 31.89 points, or 1.18 percent, to 2,735.85 and the Nasdaq Composite .IXIC added 98.50 points, or 1.37 percent, to 7,308.59.

Despite trading higher during the previous trading session prior to the release of the U.S. Federal Reserve, most U.S. stocks fell during the trading session on Thursday shortly after the release of the Federal Reserve's previous policy meeting.

The Conference Board said its leading economic index jumped by 1.0% in January after climbing by 0.6% in December. Germany's DAX slipped 0.3 percent, while France's CAC 40 rose 0.1 percent.

In commodities trading, crude oil futures are slipping USD0.03 to USD62.74 a barrel after jumping USD1.09 to USD62.77 a barrel on Thursday. An ounce of gold is trading at $1,325.50, down $6.60 compared to the previous session's close of $1,332.10.

On the currency front, the USA dollar is trading at 107.03 yen compared to the 107.78 yen it fetched at the close of NY trading on Wednesday.

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